Campbell's Snacks Division Continues to Underperform

Dow Jones
09/03

11:34 ET - Campbell's snacks division, which includes Goldfish crackers and Cape Cod potato chips, continues to underperform. Consumption and organic net sales declined 5.1% and 6%, respectively, during the latest quarter. There are several factors currently hurting big food companies, such as persistent inflation prompting consumers to rein in spending as well as the rise of GLP-1 drugs that are limiting appetites. "Fiscal 2026 was clearly a challenging year for the snacks division," Campbell's CEO Mick Beekhuizen says on a call with analysts. "However, with strong new leadership, a streamlined operating model and a clear focus on everyday great execution, we are taking the right steps to turn around performance." Campbell's shares are off 11% after the company swings to a F4Q loss and logs lower sales.

 

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